New York, NY, May 01, 2025 (GLOBE NEWSWIRE) — South Street Securities LLC (“South Street Securities”) is pleased to announce the completion of its merger with GX2 Spread Markets LLC (“GX2 Spread Markets”), having received regulatory approval from the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA). The two broker dealers are now consolidated under the South Street Securities LLC entity. This marks a significant milestone in the firm’s commitment to technology-enhanced trading across the capital markets, highlighting the evolution of algorithmic, agency brokerage and principal market making liquidity solutions in US Treasuries.
GX2 Spread Markets transitions the operation of its leading interest rate algorithmic trading platform for outright, spread and basis strategies into South Street Securities.
GX2 Systems continues to aggressively design, develop and deploy new execution algorithms and strategies while striving to improve customer access to execution through web application and API. The experienced team at GX2 Systems will help expand South Street Securities’ footprint in the primary dealer, large international dealer and hedge fund ecosystem.
“We’re focused on delivering more value to our clients through increased efficiency and technology-driven solutions across our businesses,” said James Tabacchi, President and CEO of South Street Securities Holdings, Inc. “Bringing GX2 Spread Markets into South Street Securities represents the next chapter in our mission to scale strategically while honoring our standard of quality, relationship-driven service.”
This follows the January 2024 announcement of South Street Securities Holdings, Inc. acquiring:
- GX2 Spread Markets LLC, a boutique broker dealer that offers a fully hosted aggregation and spread execution platform as a service for US Treasuries and related Futures, which has merged operations into South Street Securities LLC.
- GX2 Systems LLC, a financial technology firm that engineers electronic trading solutions for the Fixed Income and Futures markets.
GX2 Spread Markets has fully transitioned its operations, trading and execution activity into South Street Securities, leveraging the enhanced balance sheet and direct clearing membership at FICC.
“Joining forces under one broker dealer unlocks new opportunities for our team and clients,” said David Jaberg, President and CEO of GX2 Systems, “It allows us to emphasize the growth of our voice execution desk and high-touch, client coverage by utilizing the latest technology developments and improvements within our global, algorithmic execution platform.”
The integration brings seamless access to GX2 Systems’ next generation rate-algo technology. Recently, the financial technology firm released an advanced algo suite focused on capturing mid-market execution and providing algos for minimizing execution risk in a number of market environments.
As South Street Securities begins this new chapter, it celebrates stronger infrastructure, deeper capital efficiency, more in-house industry experts, enhanced technology, and greater value for clients.
For more information, please visit www.southstreetsecurities.com.
About South Street Securities
South Street Securities LLC is a leading independent provider of specialized financing, servicing capital markets institutional asset managers (including traditional and hedge fund managers), real estate investment trusts (“REITs”), tri-party investors, mortgage lenders, midsize and middle market securities broker-dealers, and corporate and government issuers. With FINRA, SIPC, OCC, NFA and FICC Tier 1 memberships, South Street Securities operates from its New York headquarters, focusing on Repo dealer financing US Treasuries, Agency MBS, TBA Mortgage Origination Hedging, Equity Finance and Algorithmic Trade Execution.
About South Street Securities Holdings
South Street Securities Holdings, Inc. operates through its wholly owned subsidiaries. Affiliates include South Street Securities LLC, a FINRA, SIPC, OCC and NFA member, who holds a FICC Tier 1 membership and is focused on Repo dealer financing US Treasuries, Agency MBS, TBA Mortgage Origination Hedging, Equity Finance and Algorithmic Trade Execution. Matrix Applications, LLC, a technology and back-office services company, AmeriVet Securities, Inc., a FINRA and SIPC member who operates an SEC registered service-disabled veteran broker dealer, GX2 Systems LLC, a fintech software development company that engineers electronic trading solutions for the fixed income and futures markets.
About GX2 Systems
GX2 Systems is focused on providing the most efficient method of spread execution, market aggregation and algorithmic strategy execution services in global electronic markets. GX2’s flagship offering, ExMode, is a fully hosted execution platform for customized spreads of multiproduct relative value relationships. Users’ strategies may consist of cross-exchange, cross-asset class products. Orders are executed precisely at the limit price of the spread level, always in balance, and free from any legging risk. GX2 also provides STAR, our Smart Trade Aggregation and Routing system, to aggregate the world’s deepest, most tightly priced treasury markets. Both ExMode and STAR are accessed through a friendly and flexible user interface designed by traders for traders. GX2 also provides a proprietary API for automated integration of strategy-driven trading.
CONTACT: Colleen Judge South Street Securities LLC colleen.judge@sssnyc.com
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